Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 192.97

-1.6%

Jan 16 9:30 AM EST

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To: celeryroot.com who wrote (12852)	12/27/1997 11:13:00 PM
From: JOEBT1	Read Replies (2) of 32384

Here's some food for thought on determining a fair value for LGND. I've gathered some data on market capitalization ( number of shares times market price) on other promising biotechs and compared it to LGND. LGND market cap based on 38 million shares outstanding and current price of $12 is 456M. If you count warrants the number of shares is 44.5M giving a market cap of 534M. The market cap for Vertex (VRTX) is 840M based on 25.1M shares. The market cap for Millenium (MLNM) is 526M based on 28.9M shares.The market cap for Sepracor is 1017M based on 27.7M shares. The market cap for Centocor (CNTO) which has 200M sales and is profitable is 2265M based on 71.9M shares. IMHO LGND has comparable prospects to SEPR; greater prospects than VRTX; is ahead of MLNM in product delivery and therefore is comparatively undervalued to these companies. CNTO is 2 to 3 years ahead of LGND in markertable products and gives insight in how LGND may be valued 3 years from, ie, 2265M market cap for LGND would translate to a price of $51. Would be interested in your thoughts and others on the above.

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